Oil minister may discuss new natural gas pricing formula in Cabinet meet

Oil Minister Dharmendra Pradhan is set to attend a cabinet meeting on Wednesday ahead of the deadline to raise domestic gas prices by October 1, two government sources told Reuters.

The government, in June, had deferred natural gas pricing to September-end, saying the complex issue needed more discussion.

Pradhan is not a member of the cabinet committee but can attend the meeting as a special invitee. Oil Secretary Saurabh Chandra will also attend the meeting being held before Prime Minister Narendra Modi visits the United States.

A four-member committee of secretaries, which was formed in August to make amends to a gas pricing formula notified in January, from the ministries of oil, power, fertiliser and finance submitted a report on September 17 on a new gas pricing mechanism.

(Reuters)